In Need of One-Stop Automated Advice

Brad Prodger, vice president of Product Strategy and Advice for Investment Services at Fiserv, shares the latest industry thinking on front-to-back solutions that aid wealth managers in servicing their clients more efficiently in this Hubbis article.

New regulations and investor demands for simplicity, transparency and personalized advice are dictating that investment services offerings must now include a comprehensive plan suitable to each investor.

For investors, the preference is for solutions that are holistic and include tailored advice at the same time as aggressive risk management. "They want choice and convenience – including in terms of how they interact with the advisor, or with technology – without sacrificing results. And they want to protect every family member with one complete and easily managed financial plan, known in the industry as a unified managed household (UMH)," says Brad Prodger, vice president of product strategy and advice for investment services at Fiserv.

To do this effectively, however, requires best-of-breed applications in terms of financial advice for investor planning to integrate into middle and back-office functions, he explains.